2. Shorter repayment periods on a mortgage can reduce the interest rate charged by the lender. True or False?
a) True
b) False

3. Treasury bills have terms of:
a) One year or less
b) One to ten years
c) More than ten years

4. You and your spouse have a joint credit card account. Which of these is correct:
a) Only the primary account holder is responsible for any debt
b) Each account holder is responsible for only the charges they make
c) Each account holder is responsible for the entire debt

5. The amount of time a creditor gives you to pay your bill with no interest or finance charges is called?
a) The Float
b) The Swing
c) The Grace period

6. Which of the following is a creditor prohibited from asking you about when you apply for credit?
a) Sex
b) Race
c) Religion
d) Marital status
e) All of the above

7. You’ve lost your debit card and notify the bank within 2 business days after your realize that it is missing. What is your maximum liability for unauthorized use?
a) No liability
b) $50
c) $500

8. If your tax preparer has the initials CPA after his/her name, it means he or she has:
a) Passed a national test
b) Practiced accounting for a certain amount of time
c) Taken accounting classes after college
 

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